JNJ Stock Forecast & Price Target

Johnson & Johnson (JNJ) has demonstrated impressive operational sales growth of 11.5% in Q4 2025, even after accounting for a significant headwind from generic competition for its Stelara product. The company's strong performance is further highlighted by a projected increase in total revenue to $100.42 billion for 2026, driven by positive growth in key therapeutic areas such as immunology, oncology, and neurology, particularly with products like Rybrevant experiencing over 100% growth. These favorable financial metrics, along with robust management guidance, support a positive outlook for the stock as it has appreciated approximately 30% since July 2025.

Johnson & Johnson faces significant headwinds that contribute to a negative outlook on its stock, primarily due to the loss of patent exclusivity, which could precipitate rapid sales declines as generic or biosimilar competitors enter the market. The company's new product launches and pipeline assets are under scrutiny; disappointing performance in these areas, coupled with macroeconomic concerns related to U.S. drug pricing reforms and ongoing litigation risks, particularly surrounding talc-related lawsuits, could adversely affect sales and overall investor sentiment. Furthermore, there are adjustments to sales forecasts for several existing products as prescription trends indicate potential declines, further complicating JNJ's financial outlook.